Prepare a cash account for the year ended 31 December 2017 to show the amount paid for other operating expenses.
Cash account
Additional information
1 The loan carried an interest rate of 10%. The loan had been received on 1 July 2017 and no interest had been paid by the year end.
2 The fixtures and fittings were expected to last for 10 years and have no scrap value. They are to be depreciated using the straight-line method. The policy is to provide for a full year’s depreciation in the year of purchase.
3 At the year end other operating expenses, $1000, were accrued.
4 At the year end inventory was valued at cost, $6200.